Madison Square Garden Co (NYSE:MSG) – Research analysts at Imperial Capital cut their Q2 2019 earnings estimates for shares of Madison Square Garden in a note issued to investors on Monday, November 12th, according to Zacks Investment Research. Imperial Capital analyst D. Miller now forecasts that the company will post earnings of $2.90 per share for the quarter, down from their prior estimate of $3.91. Imperial Capital has a “Outperform” rating and a $372.00 price objective on the stock. Imperial Capital also issued estimates for Madison Square Garden’s Q4 2019 earnings at ($2.81) EPS, FY2019 earnings at $0.35 EPS, Q1 2020 earnings at ($1.70) EPS, Q3 2020 earnings at $2.30 EPS, Q4 2020 earnings at ($3.29) EPS and FY2020 earnings at $1.62 EPS.

MSG has been the subject of a number of other reports. Zacks Investment Research raised Madison Square Garden from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. Macquarie reissued a “buy” rating and issued a $356.00 price target on shares of Madison Square Garden in a report on Tuesday, October 30th. Morgan Stanley cut their price target on Madison Square Garden from $320.00 to $310.00 and set an “equal weight” rating for the company in a report on Friday, November 30th. Finally, Guggenheim boosted their price target on Madison Square Garden to $350.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $342.67.

Shares of NYSE MSG traded up $0.46 during trading on Wednesday, reaching $271.48. The company had a trading volume of 306,924 shares, compared to its average volume of 267,644. Madison Square Garden has a twelve month low of $205.22 and a twelve month high of $330.00. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 45.70 and a beta of 0.68. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Madison Square Garden (NYSE:MSG) last issued its quarterly earnings data on Thursday, November 1st. The company reported ($1.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.13) by $0.77. Madison Square Garden had a return on equity of 0.27% and a net margin of 7.86%. The firm had revenue of $218.14 million during the quarter, compared to analysts’ expectations of $211.48 million. During the same period in the previous year, the firm posted ($0.47) earnings per share. Madison Square Garden’s revenue was down 11.0% on a year-over-year basis.

Several large investors have recently made changes to their positions in MSG. Legal & General Group Plc grew its position in shares of Madison Square Garden by 9.4% in the first quarter. Legal & General Group Plc now owns 11,504 shares of the company’s stock valued at $2,828,000 after purchasing an additional 984 shares during the period. Royal Bank of Canada grew its position in shares of Madison Square Garden by 23.2% in the first quarter. Royal Bank of Canada now owns 18,806 shares of the company’s stock valued at $4,622,000 after purchasing an additional 3,540 shares during the period. Allianz Asset Management GmbH purchased a new stake in shares of Madison Square Garden in the first quarter valued at $243,000. State of Alaska Department of Revenue grew its position in shares of Madison Square Garden by 38.3% in the second quarter. State of Alaska Department of Revenue now owns 7,257 shares of the company’s stock valued at $2,249,000 after purchasing an additional 2,010 shares during the period. Finally, Xact Kapitalforvaltning AB grew its position in shares of Madison Square Garden by 8.4% in the second quarter. Xact Kapitalforvaltning AB now owns 2,572 shares of the company’s stock valued at $798,000 after purchasing an additional 200 shares during the period. 69.86% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Company Profile

The Madison Square Garden Company, together with its subsidiaries, engages in live sports and entertainment businesses in the United States. The company operates in two segments, MSG Sports and MSG Entertainment. The MSG Sports segment owns and operates professional sports franchises; and promotes, produces, and/or presents an array of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling.

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Earnings History and Estimates for Madison Square Garden (NYSE:MSG)

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